NEW YORK, March 17, 2020 /PRNewswire/ -- S&P Dow Jones Indices and Experian released today data through February 2020 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was unchanged at 1.02%. The bank card default rate increased 13 basis points to 3.41%. The auto loan default rate dropped 10 basis points to 0.89% and the first mortgage default rate was unchanged at 0.84%.

(PRNewsfoto/S&P Dow Jones Indices)

Four of the five major metropolitan statistical areas ("MSAs") showed lower default rates compared to last month. Miami showed the largest decrease, down 11 basis points to 1.66%. New York fell seven basis points to 1.00%, Los Angeles dropped six basis points to 0.80%, and Dallas was five basis points lower, to 1.02%. Chicago was the only major MSA that increased, up four basis points to 1.21%.

The table below summarizes the February 2020 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

National Indices

Index

February 2020 Index Level

January 2019 Index Level

February 2019 Index Level

Composite

1.02

1.02

0.92

First Mortgage

0.84

0.84

0.70

Bank Card

3.41

3.28

3.48

Auto Loans

0.89

0.99

0.99

Source: S&P/Experian Consumer Credit Default Indices

Data through February 2020

The table below provides the index levels for the five major MSAs tracked by the S&P/Experian Consumer Credit Default Indices.

Jointly developed by S&P Dow Jones Indices LLC and Experian, the S&P/Experian Consumer Credit Default Indices are published on the third Tuesday of each month at 9:00 am ET. They are constructed to track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien. The Indices are calculated based on data extracted from Experian's consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian every month. Experian's base of data contributors includes leading banks and mortgage companies, and covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spdji.com.

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